Hiscox News

Hiscox Appoints Hussain as Group Chief Financial Officer

Hiscox Ltd. announced that Hamayou Akbar (“Aki”) Hussain will join the Hiscox Group as group chief financial officer. Hussain will join Hiscox from Prudential plc, where he spent seven years; latterly as chief financial officer of Prudential UK & Europe. He sits on …

Hiscox Expands Cyber Offering to Small, Mid-Size Businesses

Hiscox has expanded its cyber and data risk coverage to include Hiscox CyberClear. The product is designed for small and medium-sized enterprises in the U.S. with less than $1 billion in annual revenue. This product will complement Hiscox’s existing Cyber …

Low Interest Rates, Soft Market Pricing Hit London Market Insurers: Fitch

The negative impact of low interest rates and soft market pricing on London market insurers has been partially offset by low levels of large claims, according to Fitch Ratings in a special report. London market insurers tend to hold a …

Brit Leads New Commercial General Aviation Consortium at Lloyd’s

Brit Ltd., the global specialty insurer, has launched a Lloyd’s consortium for commercial general aviation. Now quoting business, the consortium is being led by Brit with capacity also being provided by Kiln, Hiscox, Apollo and Pritchard, and is the only …

Zika Exclusion Now Commonplace in Cancellation Cover for Latin America Events 

Organizers of rock concerts and conferences in Latin America or fringe events at the Rio Olympics beware: if you still need insurance to cover cancellation due to the Zika virus, it’s probably too late. The International Olympic Committee (IOC) should be fine. …

Hiscox to Sell Hong Kong Division of DirectAsia Business to Well Link Group

Hiscox, the specialist insurance group, announced it has reached an agreement to sell the Hong Kong division of its DirectAsia business to Well Link Group Holdings Ltd., a member of a Hong Kong-based financial conglomerate. The transaction, which will allow Hiscox to focus the …

Hiscox Launches E-Trading System for U.K. Commercial Brokers

After a successful pilot, Hiscox has launched Hiscox Trader, a new e-trading solution for U.K. commercial insurance brokers in partnership with insurance technology specialists Open GI London. The new cloud-based technology enables brokers to give their customers an indication of …

Hiscox Hires Mackey as Energy Underwriter, Completing Energy Team

Lorraine Mackey has joined Hiscox’s London market energy team as an energy underwriter. Mackey’s appointment completes the team led by Charles Rawlins, energy line underwriter, and also includes Louis Cozon. Previously at AXIS Capital, Mackey has six years’ underwriting experience …

Energy Insurers Become Latest Casualty of Oil Slump as Projects Are Postponed

The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that was already crowded. Insurers forecast income could dive by 20 percent or …

Hiscox Adds Property Damage Protection to Terrorism Insurance Product

Hiscox has enhanced its stand-alone terrorism portfolio by adding new products covering property damage from malicious attacks utilizing nuclear, chemical, biological and radiological (NCBR) devices. Hiscox NCBR policies offer coverage of up to $25 million for blast damage, decontamination and …